SET surges on reports of political exile of ex-premier

[elef]

The Nation

11-08-2008

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SET surges on reports of political exile of ex-premier

 

The Stock Exchange of Thailand (SET) composite index surged almost 20 points at the opening bell of Monday's morning trading session, boosted by strong rallying in regional stock markets

 

 

The easing of Thailand's domestic political tension is expected after ousted prime minister Thaksin Shinawatra and his wife Khunying Pojjaman are reported to seek an exile in the United Kingdom.

 

The index opened higher by 18.06 points to stay at 708.76 and continued to gain momentum to close at 712.61, up 21.91 or 3.17 per cent with a heavy trading value of Bt14.52 billion, with blue-chip stocks in the energy and banking sectors leading the market.

 

Adisak Kammoon, director of KGI Securities' Economic and Strategy Research Division, said the strong rally of the Thai stock market was bolstered by positive internal and external factors.

 

Internally, the ongoing political turmoil is expected to ease if the former premier and his wife decide to formally seek political asylum in the United Kingdom as many have speculated.

 

His departure leads to the euphoria that political stability would be reinstated. Due to political conflicts and economic problems, the SET index had lost 19.51 per cent since the beginning of this year until August 8.

 

[jitagawn]

I doubt whether he will return but who knows really.For the past few months while in BKK he was living in a hotel along the river and buzzing back and forth bewteen there and Nonthaburi in a boat visiting Chavalit as they both pulled Samak puppet strings. My understanding is that the military and the judicial branches are so jointly set against him that it might be all over...

 

[JayT]

Good riddance

[cavanami]

IMO, it is all about $$$, Mr. T. has it and "they" want it...a typical day in the "office".

[elef]

Bangkok Post

12-08-2008

Link

 

 

Investors' confidence boosted after Thaksin's exile

 

BangkokPost.com) - Confidence of investors is starting to increase as they consider the exile of deposed prime minister Thaksin Shinawatra as a sign of a more stable political situation.

 

 

The President of the Thai Chamber of Commerce, Mr Pramon Suthivong, said Mr Thaksinâ??s decision not to return to Thailand can help ease the political tension for a time being, but investors may have to look at other factors that could exacerbate different sides in the long run. If the situation starts to alleviate, trade and investment would improve to a certain level, Mr Pramon said.

 

 

The Vice President of the Federation of Thai Industries (FTI), Mr Tanit Sorat, said many businessmen have agreed that the ousted premierâ??s exile would lessen political uncertainties. He said the circumstance would draw in more investments while driving business expansion in the country. However, businessmen are monitoring the governmentâ??s further actions to spur investment in the state sector, according to Mr Tanit.

 

 

The Chairman of the Thai Retailersâ?? Association, Mr Somchai Pornratanajaroen, said the better state of politics together with the decreasing oil prices would help the morale of public members to some extent, and this would stimulate consumption as a consequence. He said a new political standard could be established, but not too soon.

 

 

The Director of the Center for Economic and Business Forecast under the Thai Chamber of Commerce University, Dr Thanawat Polvichai, said Mr Thaksin's retreat should lower the political tension. However, not all conflicts are eliminated because there are still rifts within the political parties, but the confidence of the public and investors should be restored in the long-term, he added.